TXO Partners (NYSE:TXO) Coverage Initiated by Analysts at Stephens

Equities research analysts at Stephens assumed coverage on shares of TXO Partners (NYSE:TXO) in a note issued to investors on Wednesday, MarketBeat Ratings reports. The firm set an “overweight” rating on the stock.

A number of other research firms also recently weighed in on TXO. Zacks Research raised TXO Partners from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 3rd. Wall Street Zen upgraded TXO Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 26th. Weiss Ratings raised TXO Partners from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, August 21st. Finally, Stifel Nicolaus assumed coverage on shares of TXO Partners in a research report on Thursday, September 10th. They issued a “buy” rating and a $17.00 price target for the company. Three research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $19.00.

TXO Partners Stock Performance

NYSE:TXO opened at $14.35 on Wednesday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.42. TXO Partners has a twelve month low of $10.12 and a twelve month high of $15.58. The company has a fifty day moving average of $14.30 and a 200-day moving average of $13.31. The firm has a market capitalization of $795.59 million, a P/E ratio of -18.64 and a beta of 0.08.

TXO Partners (NYSE:TXO) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.96. TXO Partners had a negative net margin of 9.23% and a negative return on equity of 5.59%. The business had revenue of $150.87 million during the quarter, compared to analysts’ expectations of $116.24 million. As a group, sell-side analysts anticipate that TXO Partners will post 0.58 EPS for the current year.

Insider Activity

In other news, Director Bob Simpson bought 125,000 shares of the stock in a transaction dated Thursday, August 13th. The stock was bought at an average price of $14.32 per share, for a total transaction of $1,790,000.00. Following the completion of the acquisition, the director directly owned 9,500,000 shares in the company, valued at approximately $136,040,000. This trade represents a 1.33% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have acquired 400,000 shares of company stock valued at $5,638,250.

Institutional Investors Weigh In On TXO Partners

Institutional investors have recently added to or reduced their stakes in the company. Pin Oak Investment Advisors Inc. bought a new position in shares of TXO Partners during the 2nd quarter worth approximately $4,469,000. Hennessy Advisors Inc. purchased a new stake in shares of TXO Partners during the second quarter valued at approximately $488,000. Energy Income Partners LLC increased its position in shares of TXO Partners by 27.5% during the first quarter. Energy Income Partners LLC now owns 1,449,028 shares of the company’s stock valued at $18,229,000 after acquiring an additional 312,120 shares during the last quarter. Bank of America Corp DE lifted its holdings in TXO Partners by 259.3% during the first quarter. Bank of America Corp DE now owns 374,780 shares of the company’s stock worth $4,715,000 after acquiring an additional 270,465 shares during the period. Finally, Allied Private Wealth LLC purchased a new position in TXO Partners in the second quarter worth $30,000. 27.44% of the stock is owned by institutional investors.

About TXO Partners

TXO Partners, L.P. (NYSE:TXO) is an independent oil and natural gas company focused on acquiring, developing, and operating producing properties in the United States. The company emphasizes oil-weighted assets and seeks to generate production from mature properties through development, workovers, operational improvements, and enhanced recovery activities.

TXO Partners’ operations are concentrated in the Permian Basin, including producing assets in parts of Texas and New Mexico. Its portfolio includes conventional and unconventional oil and natural gas properties, with associated natural gas liquids and other hydrocarbons produced alongside crude oil and natural gas.

The company was formed as a publicly traded master limited partnership and began trading on the New York Stock Exchange in 2022.